eunice >> reporter: thank you, seema. new stock exchange here in beijing it is opening up its futures trading to foreign investors yesterday's, president xi jinping announced the plans for the stock exchange the focus is on supporting innovation oriented sme. smaller companies. the csrc, the stock regulator, said it was positively and resolutely implementing the plan the regulator said the board is going to include select tier board shares the board is a precursor or board that has been around in beijing for eight years or so. not particularly successful, but now a transfer of some of the shares to the beijing stock exchange likely one of the reasons why analysts say this is a rebranding effort for the new third board to the beijing stock exchange on the second day of trading, it will be capped at 30%. that is meant to help attract and fund some smaller chinese companies that as we all know have now some restrictions on their potential to look at the overseas markets such as new york for potential fund raising. separate t

seema: i think so. last couple of months, we have seen those technical indicators really start to turn on their head a little bit, and we are hoping the last two or three weeks that some of that is turning around. i think in the early part of the year, forecasts were around the 1.90% level. those have come down, and i think that is a mix of maybe some technical indicators going to continue to persist, but also the fundamental growth outlook for the u.s. has come down a little bit in the second half of the year, too. guy: let's dig into this a little bit more. you talked about the earnings narrative, what you say is important in terms of keeping equities on the tracks. as you also say, we are starting to see may be a bit about growth slowdown. what we are certainly seeing is input costs, both labor and materials come arising for businesses. the indications thus far, and you can see this in the gap between cpi and ppi, is that companies are absorbing that. i.e. margins are being squeezed. at some point, t

>> so good to be with you, seema.so much promiscuity on the part of our readers in the past month we're always curious about what they're curious about. their new queries about different types of coins and different types of ways to invest in the blockchain have really revealed a lot to us. cardono, very popular coin blockchain platform has the ada token. very popular among our readers who are interested in investing in that. looking at blockchain etfs which ones are the best to access interested in dow, the decentralized awe tonneau moss organizations. they're interested in ethereum's gas and ethereum qgwei a lot of people are still involved in bitcoin and ethereum and other popular tokens and it's become much more widespread. >> are people getting bored with bitcoin and want to diversify? or is there something more appealing to the cryptocurrency investor >> i think it's all of the above. i don't think they'll ever tire of bitcoin they're there forever. they're holders forever. i think they're looking at what's bein

seema: it's not. one thing we've been saying is a lot of people have come out and said, august 8 was bad. markets got freaked out. we put it down to a cost increase in the u.s. and other parts of the world, and some consensus about china. delta is plateauing and china has issue -- china's issuing is increasing. it is seeming that we are correct that a slowdown in growth from the first part of the year is not mean there is a contraction. it just means it is a slower but more sustainable pace of growth and we think risk assets do well. lisa: the consensus is there will be some kind of dip, especially leaning into the cyclicals in the u.s. do you agree? seema: i am starting to get more consent that europe's time in the sun is starting to end. we like the u.s. because not only do you get the exposure to cyclicals, which we believe the growth will still be strong, but also within the u.s. to have the technology trade. you get a bit of both, which means throughout u.s. equities, it is a core part of the all

here to break down the headlines, michael santoli, seema mody and zelanos saporo.o have you in the mix as well let's begin with supply chain and semiconductor issues continuing to crush the auto industry see the ford numbers sales dropped 33% in august from the previous year. they cut f-150 production. they've cut ships to plants around the country and the tesla roadster is delayed until 2023 he's calling it the year of the supply chain shortages can any automaker handle this problem? delano, what do you think? >> i definitely think there's going to be persistent problems for all automakers, especially this year going into next. i think i like what tesla is doing in the sense of we have a stock that's $740 billion market cap stock that's now seeing some turn around in the stock trade i added to some of my positions over the last month as we saw yield goes down and recalibration of expectations for growth investors look at the largest market share here, the best player when it comes to electric vehicles i'm sticking with that tesla trend. >> do you think cathie wood

i'm seema mody from cnbc.all street set to open higher after stocks slipped yesterday to wrap up august but the s&p 500 still notching a seventh straight month of gains up about 3%. nasdaq higher by 4%. some analysts are on the lookout for a possible sell-off in september given that we haven't had a significant one since last october. september has historically been the worst month for the market going back to world war ii with an average decline of about a half a percent. in focus today a report on hiring in the private sector, data on manufacturing and construction spending and auto sales. google delaying its return to office plans through january due to the ongoing uncertainty caused by the delta variant in many parts of the world. google had delayed the return from september to october. it was one of the first companies to ask employees to work from home last year. >>> amazon is working to resolve a big frustration with smart speakers. it's launching a feature called adaptive volume which will make alexa r

shah at global investors seema, the market seems to shake everything off what is behind the optimismen the headwind on the horizon? >> dom, the market is opt optimistic one is it looks like in the u.s., the covid case growth is plateauing that should mean in the months ahead, things should improve it takes away one of the growth scares the other thing is although the fed is set to taper, the balance sheet is growing they have to be careful to emphasize just because they start tapering that purchase, it doesn't mean rate hikes are on the way. we think that is a couple of years ago. off the back of that, we should have easy financial conditions and strong growth ahead. that is very good for markets. >> if that is the case, if that's the condition, what are investors looking toward, seema? i know from watching the price action over the last two or three months, it appears as though that kind of tried and true trade over the last decade and and a half has emerged a again. that is go back to large cap and mega cap technology. microsoft and apple and facebook those companies. is that the t

to seema mody with the numbers today. >> let's talk global markets the losses more pronounced there are increased concerns and what beijing may target next check out some of the etfs that hold a lot of these names down 4% to 6% just this week. as you can see on track for its sixth monthly decline. all of the etfs down 30% or more from respective highs. while they say regulatory efforts are, quote, unserving, they do not think china is uninvestable and sees opportunity in the long term once all of this noise dissipates the question is do investors have the patience for all of this given we don't know what will come next for the chinese >> it has not been a winning proposition so far >> china in particular, a number of factors any other economy you can do your analysis, this may be an outlier. >> the economic data has not been so great as of late kathy wood pulling out or getting more selective there's a lot to go through right now when you're looking at investing overseas >>> the former head of black rock follows the money to look at the real-world impact of esg and "trading nation" weig

shed in a swimming pool you are seeing the twister left behind a path of destruction in a moment, seema mody on the shocking scenes in new york. brian sullivan with the deadly flooding in new jersey, but first gary grumbach. >> reporter: i'm at the entrance of the vine street expressway. when officials here in the city say thinks an active situation, an ongoing situation, this is exactly what they mean you can see the feet of water reaching up to the street sign there. just beyond the tree lines crews are very slowly pumping out water from the middle of the expressway we're seeing it all over the city this is affecting schools, because schools were open do, but philadelphia public schools will be closed tomorrow. this is also impacting people lives in nearby apartments this building i apartment was evacuated because of the water that reached the basement and first level. we're seeing evacuations, schools being closed, and water rescues across the city. more than 100 rescues have happened crews say it's still an ongoing situation, and they said everyone to stay home until the water reced

lulu is trading at all-time highs after its report seema mody has the details >> reporter: melissa, that is right. lululemon shares surging in after hour trade which would be an all time high here's the story the athletic apparel retailer topping the top and bottom line. the company getting a boost. meagan frank said our performance in the second quarter was driven by a strong response to our product offering improving productivity in our stores and sustained strength in ecommerce. international sales up 49% north american sales 63% wall street was very bullish on lulu channel checks from piper sandler showing strong sellouts from women's and men's apparel a pick up and growth in mirror, the company they acquired. piper is more challenged by air freight. the conference call is underway. stock, wow, up nearly 12% in extended trade melissa. >> what a move stephen, thank you nike as well as under armour are higher on the after hours session. guy adami, what do you make of this quarter >> ridiculous in one word. operating margins came in 20.6%. the street was looking for 15.9%, up from 13.6

, thank you very much, we appreciate it seema mody for us today.ybody. thank you for tuning in but don't go anywhere because the apple event is continuing and "power lunch" picks up coverage right now. >>> and welcome, everybody, to "power lunch." i'm tyler mathisen, and apple's big event is our top story this hour the iphone 13 is here. will it be a lucky number for big apple? the company unveiling new ipads and new watch features the event still under way as kelly just mentioned and we will bring you all of the headlines. >>> solar panel sticker shock. prices rising across the board for the first time since 2014. it's supply chain, tsd materials cost we'll look at what's causing the jump and why it is creating challenges for that industry. >>> and the untold stories of ceos we unveil a new series called "working lunch." andy jassey will tell us something few others know about his early relationship with jeff bezos. >>> hi, everybody. let's get you a quick midday market check the dow is down 218 points, the s&p down 15, the nasdaq dropping only 18

shep. >> seema mody live in miami.rious artisan fresh made salads they became synonymous with city office jobs, especially for workers who really didn't have time for a lunch break but could shell out $15 for a quick meal that was in the before times no more in many cities so many employees still working from home that those desk salads are now making their way to the burbs. some restaurants are cashing in for sure here's cnbc's kate rogers. >> reporter: the lunch hour was a break, a beacon of freedom on a long, busy day at the office but since the pandemic, lunch has lost its luster. after 18 months of working from home, workers around the country are reclaiming that midday break. >> there would be opportunities, you know, to meet up with co-workers and go out for lunch, where at home it's just me and my cat. >> i normally go out to some places like this where i can get a quick meal and head on back. >> reporter: data show lunch traffic has been gaining over 2020 levels this summer but it well below pre-pandemic level

seema, so good to see you. so, mail-in ballots, have they been flooding in or trickling in?'s 22 million registered voters received a mail-in ballot because of the pandemic, and so far about 5.7 million have been returned. so that's roughly a quarter of the electorate. but different groups are returning them in different numbers. democrats have returned twice as many as republicans. seniors have returned a lot. but latinos have not been voting in their share and young voters have not been voting as much. and these are two key coalitions for the governor's chances of holding on to his seat. >> so war feelings about -- we're still in the height of a pandemic. and if you don't have significant turnout with the mail-in opportunity, is there a feeling that people will actually show up at polls and it could make an impactful difference? >> in los angeles county where i am, voting centers just opened today, so starting today, you can go and cast your ballot that way instead of just mailing your ballot. but there is also, before -- you know, a couple of cycles ago, it was very commo

you said you are looking at less than 10% revenue exposure for a lot of your companies to china seemaate it. nancy, if you will stick around, we want to talk script owe before we let you go as well the argument for bitcoin being a safe haven, it is down below 44,000, the lowest level in two months ether is down 7% ripple is down 12% kate rooney is here with more. kate, i see a lot of discussion online in the crypto space a lot of people concerned about the ripple effects from china here >> that's right, kelley. you mentioned the safe haven argument that's looking further and further away it is not the case this week any of the big sell-offs in equity markets we have seen over the past couple of years really tend to result in collateral damage in the crypto market. so it is a dynamic we have seen play out before, traders and analysts have been talking to say, what happens here is they kind of sell out of the high growth tech names, fintech is getting hit today so that's one dyn dynamic. bitcoin is a bit of a safe haven. gold has up up today but traders may need liquidity in times of li

thank you for your time this afternoon, seema.e the drivers to resolve this particular problem. what can it do given the circumstances are presented?— given the circumstances are resented? , , , ., presented? firstly, we should say that this is _ presented? firstly, we should say that this is a _ presented? firstly, we should say that this is a consequence - presented? firstly, we should say that this is a consequence of- presented? firstly, we should say that this is a consequence of the i that this is a consequence of the government. gps are at wits end, first forced to cancel... the delays in being able to get these to gps, it has been a summer of crises, not just with the nhs, but with wider supply chain crisis, which is hitting businesses, our economy and now with patients paying the price. with the winter coming and free resurgence, that risk, ministers need to get a grip. we need to call for ministers, the government to take action and for there to be a designated minister to help tackle the supply chain crisis. they need t

. >>> let's flip over to seema mody for trading nation. >> thanks, investor kathycathies slashing herso do you trust the recent move, the recent rebound, or is there more pain ahead? let's bring in the trading nation team. we have daniel say, and craig johnson. we also a president bidened and president xi speak for the first time sin february. how do you think politics are -- >> i would say once bitten, twice shy. if you just look at the chart, these stocks peaked in february and have been making a pretty consistent series of lower lows, lower highs, from my perspective until we get back above that declining price channel, i'm not going to touch these stocks until that reversal takes place. >> danielle, give me one name you think can defy gravity >> the one name that's starting to look better in this space i think will be jd it's starting to break above the key area of resistance if jd can show some relative strength, perhaps alibaba, and the rest can follow. >> jd is trading higher today. danielle and craig, good to see you both, thank you, for more, head to our website or follow us

seema mody has that story for us >> that's right. the s.e.c. threatening to sue coinbase over a new product that would have allowed customers to earn interest on things like staple coins brian armstrong firing back in a series of tweets last night calling the s.e.c.'s actions sketchy, pushing back on the s.e.c.'s claim that coinbase's lending program qualifies as a security millions of crypto earners have been earning yield on their assets it has recently caught the aengs of regulators. they have been facing pushback from a handful of states, including new jersey high-profile names in the cryptocurrency industry have been criticizing the s.e.c. for not providing clarity on how to regulate crypto deposits and loans. if we end up in court, armstrong said we may get the regularulatory clarity we are looking at shares of the world's largest crypto exchange falling by as much as 2% taking a step back you'll see it's down as much as 40% from its 52-week high wilf and morgan? >> seema, it raised some eyebrows with the commentary words like sketchy in

seema mody has that for us seema? >> good morning.prompting hotel operators to refocus on the leisure traveler listen in. >> more leisure guests in a hotel that has historically been heavily weighted towards business travelers and making sure they're armed to provide the sorts of information that that leisure traveler demands. maybe being a bit more creative on the offerings we have in our food and beverage outlets, in our room service menus, to try to tailor a little more. >> and he added when you look at the potential impact of the delta variant, the timing of a return to office, it is possible that he may not see business transient demand return as quickly as he may have thought or hoped post labor day. of course a big part of the conversation as we watch the recent news from the airlines, david. >> yeah. though many of those stocks, seema, are not suffering today seema, thank you that does itfor us on "squawk on the street. "techcheck" starts now >>> good thursday morning, welcome to "techcheck. i'm carl quintanilla with jon fortt

you can catch us online and on twitter for more "trading nation." >> seema, thank you very much. >>>etizing the metaverse it may seem like fun and games, but there's big money in virtual reality. which companies will help build the digital future and which stocks will benefit next >>> and now the latest from tradingnation.cnbc.com >>> wedge patterns signal inflection points. two converging trend lines slanted down wards conversely a bearish wedge occurs in a down trend and consists of two converging lines going up >>> the metaverse. it's considered the next evolution of the internet, expected to reach a value of $280 billion by 2025, according to research firm strategy analytics. we have the senior analyst at jeffries it's great to have you a lot of them are the somewhat usual suspects this is not a hypothesis about -- espectly roadblox, maybe even snap. >> you're already seeing the early formation. i think you're already seeing it today. if you open up your snap, you roll down the streets, the ability to understand where your friends are, are they shopping in a certain spot, walk in

chief operating over of match will be here about the apple ruling >> first up, let's focus on the , seema mody with a look at industrial stocks mike, start us off with the market a lovin period of softness on the s&p, this kind of seesaw action where we're seeing large nasdaq stocks in a prolonged breather that's working to the detriment of the s&p , unwound that much up side. the other dynamic, there's been a pattern, especially the last three months around the 18th or 19th of the month. vs on the chart on the s&p 500, they allhappen right around there. that's what we're headed for a in a few days. will it continue that's the question. how far we have come, real far, more than doubled, of course, in the s&p. this is the average of prior market boismts you it doesn't mean it has to give it back, but it does tell you elevation in valuations, as well as equity exposed yes, we're going to talk to the ceo of clorox clorox versus the travel and leisure sector is a fascinating picture of the waxing and waning of pandemic trades this is from the end of 2019 you ceclor rocks, the perfectly positi

seema?d and what we found is that they are responding to higher food prices in different ways. multinationals, big food companies look for growth and in new delhi told the family doesn't go to the store opting for local brands in istanbul, citizens are looking for alternative sources of protein. >> what you see is definitely people going, for example, meat to lower priced protein products like chicken. >> a number of multinationals referencing the soaring cost of food rbc's nick moody said some have pricing and cost savings like general mills and kellogg and says if consumers overseas prioritize local brands over western brands that could push more companies with high exposure to the markets to become more inquisitive over time and a strategy they used in the past >> it is a good point that they could lose some share in the meantime and i wonder how much worse it could if we see the energy prices spiking and dealing with that input. >> especially in europe. the soaring gas prices prompting t

seema, tell me where we stand.ked a couple of weeks ago it was a little closer. gavin newsom has pulled ahead in the polls. republicans are running the, you know, fraud playbook. how is that going over in california? >> i mean you could tell when you talk to democratic sources in the state, you know, a couple of weeks ago they were more nervous, but as we've seen more polling, as they've spent tens of millions of dollars turning out the vote, as we've seen the mail-in ballots coming in with democrats casting twice as many as republicans they're growing more confident. these events, whether vipt harris or president biden coming in to rescue, so now it seems more like a celebration or helping him run up the margin. we won't know what happened until tomorrow because obviously a lot of republicans are waiting to vote on election day, but we are seeing people including president trump earlier today saying that this election is rigged and sort of laying out the ground work to challenge the results. >> it feels like one o

seema if you have to leave to write journalism on deadline, let us know. don't have to wave your arms like steve, we're understanding. but for that reason, start with you. folks that don't follow the ins and outs of california politics in other 49 states who may be watching, remind people what led to the recall effort and how and why it picked up steam. >> every modern governor of california has faced multiple recall attempts. several times the backers failed to get signatures. this time around they were criticizing his policies on homelessness and immigration, not pandemic. but pandemic hit and went to judge for four extra months, it was critical. when schools and businesses were shut down and voters were frustrated, juggling with kids learning and working from home. and at the same time you have famous images of him dining at french laundry maskless with friends when telling friends not to gather with multifamily groups on thanksgiving. that's the fuel for the recall, how they got signatures and attracted donor money for the final push of signature gathe

>> seema, thank you very much., we'll give you an inside like at the mercenary company that hacked apple. we're back in a moment hey lily, i need a new wireless plan for my business, but all my employees need something different. oh, we can help with that. okay, imagine this... your mover, rob, he's on the scene and needs a plan with a mobile hotspot. we cut to downtown, your sales rep lisa has to send some files, like asap! so basically i can pick the right plan for each employee... yeah i should've just led with that... with at&t business, you can pick the best plan for each employee and get the best deals on every smartphone. age before beauty? why not both? visibly diminish wrinkled skin in... crepe corrector lotion... only from gold bond. >>> apple is battling a big security headache. eamon javers has a look at how the flaw was discovered and the controversial company behind it. >> tyler, that flaw they discovered and rolled out the patch for yesterday is called a zero day/zero lick hack. that means apple had

. >> seema, my sense is that polling on recalls is not a perfect science. all three of us know that. >> right. >> but what is the trend line that makes the governor confident now and is there any risk that it shifts? >> right. polling is really, really hard because it is an election unlike any that we've ever experienced before. first of all, every californian got a mail-in voting for voting in september when people are just finishing up for summer vacations, sending kids back to school, you don't have a history for voting at this time so polling is difficult. the poll that came out today was certainly good news for the governor in terms of what appears to be a growing gap and greater enthusiasm among democrats than we've seen before. the other thing we've seen in the vote by mail that has come in, it has 20% more for the governor. young voters and latino voters are voting at far lower rates than he needs. every time it is not a presidential election these are groups it is difficult to turn out. i think we will see the campaign focusing on getting them out

though many of those stocks, seema, are not suffering today seema, thank you that does itfor us on "squawk on the street. "techcheck" starts now >>> good thursday morning, welcome to "techcheck. i'm carl quintanilla with jon fortt and julia boorstin what a show. a huge hour coming up on "techcheck" today, the latest on microsoft's dive into hybrid work, and exclusive interview with ceo satya nadella, alongside linkedin ceo ryan roslansky. then hear from verizon's hans vestberg and the commissioner of the nfl roger goodell as a new football season gets under way tonight and that's not all we also have the ceo of work from home winner logitech as the company looks to go carbon neutral by 2030, a big hour ahead. don't go anywhere. jon? >> we'll start with microsoft, focusing on demand for hybrid work with a slew of new features announced today for office and link linkedin ai camera driven software, outlook rsv details and power point feature allowing users to layer teams video into the experience for live presentations. and microsoft's linklinkedin is leaning in, to find out whether a role is

seema? >> hello shipping rates are set to increase for fedex fedex express will increase 5.9% coming amid growing supply chain concerns, disrumgss at ports the changes go effect january 2022 not seeing any movement in the stock right now. >> all right thank you. >>> up next, world bank president david malpass on the outlook for the global economy we'll be right back on "closing bell." bill, mary? hey... it's our former broker carl. carl, say hi to nina, our schwab financial consultant. hm... i know how difficult these calls can be. not with schwab. nina made it easier to set up our financial plan. we can check in on it anytime. it changes when our goals change. planning can't be that easy. actually, it can be, carl. look forward to planning with schwab. schwab! ♪♪ schwab! hey lily, i need a new wireless plan for my business, but all my employees need something different. oh, we can help with that. okay, imagine this... your mover, rob, he's on the scene and needs a plan with a mobile hotspot

back to you. >> seema, thank you. we're dry. we're looking at the nasdaq. >> we have a leak here i'm not kidding. it is coming through the roof. >> you have some other properties that have pools >> no pool i don't have a pool sdpl >> you don't have a pool you have a pond. i felt strange this morning. i messaged my while. i said i'm proud of our pool i don't know what that means it was very high when it started. that's a major deal because everything that is around the pool comes into the pool obviously this is 1% problem it did not overflow. a couple of weeks ago, i was worried. august was really rainy as well. i guess we are saturated that makes it ripe for flash flooding. >> i did see big trees down this morning to contessa's point to the ground being saturated and roots not as firm of a hold. >> i-280 we couldn't take 78. i-280 had what looked like swimming pools on it we had to go around the shoulder. >> school is canceled in a lot of places. first day of school. got the call at 11:15 last night. one of the kid's schools was

seema mody likes at marriott's decline.t's going on here >> earlier today, tony capuano said it is possible he may not see business transient demand return as quickly as he might have hoped, due to the delta variant, and companies pushing back their return to office, but he also added it's too early to say with a booking window being so close right now statistic corporate forecaster -- that's why the return of the business traveler is so crucial for the bottom line they're also rebranding some of their properties to really cater to that leisure traveler, wilf and courtney, upgrading foot and beverage menu, among other things >> it is a traveler that so many want back and is still pretty elusive. thank you so much, seema. >> anastacia, what do you make of these comments? does that give you even more pause to look at any stocks because of the high-value customer is just not back yet? >> i think he said it's possible that some of the business travels -- i think it's highly probable that some of this -- we've seen that in some

here's cnbc's seema mody. >> right now travel planning is so complex more complex than it's ever beenealize that they don't have the time and resources to figure out can i travel to a certain country. >> reporter: more americans are increasingly using travel agents. >> the rules pertaining to covid are changing daily. >> reporter: her clients aren't looking for finding a trip and a hotel but curating with fun and daring activities. >> families are looking for something a little more adventurous, more experiential riding a horse, new york kehling, doing a hike to a volcano in iceland. >> reporter: with demand on the rise, more americans are applying to become travel agents institutes saw a 36% increase this summer many opting to work from home. bigger companies like trip adviser are taking notice working with 300 designers to help customers book great destinations customers more than ever want a human connection with their travel agent. >> we are with the client before, during, and after the trip >> reporter: but a number of travel agents we spoke to say the delta variant has cut into

thank you seema malhotra, shadow business _ face. issues at petrol stations as the british army begins training to drive fuel tankers on the streets. sir keir starmer prepares for the most important speech of his career he'll address his party conference in person for the first time as britain's labour party leader. new research shows that china hands out twice as much development money as the us and other major powers combined. a trip to the pub or restaurant in the uk could be more expensive from this weekend and it's all because of changes to vat. the rate of vat was cut from 20% to 5% during the pandemic to support the hospitality industry and try to protect jobs. and businesses will have to pay the higher rate of 12.5% from october. ben thompson, our business corresponded, is at a pub in london. your point on saturday night, your chicken roast on sunday could cost a little bit more from this weekend. that is because some of the tax changes that were brought in to give business a bit of a boost in the pandemic have started to ris

water quality and have the fishermen continue to do their work >>> welcome back to "power lunch," i'm seemay fedex shares on the move ahead of earnings next week. analysts say fedex is well positioned heading into the peak holiday shipping season but the stock is not delivering recently at least down 13% this the third quarter. do you buy the dip here, let's ask the trading nation team. bill baruk of blue life capital gina, you could argue looking at the valuation of 13 times earnings, it's fairly priced, you're still not sold on owning the stock, why is that. >> i agree with you. i think there's a lot of up side here but the environment is a challenge. fedex has positives and negatives. the positives are they made a huge investment into capacity going into the holiday season. some of the downs are ups is getting into the same space. more competition the valuation says there's up side from here except for the revisions for eps have lately been negative, and that means that the expectations are maybe a little ahead of expect taatios and that's a broad market problem. i don't think that goes

seema moody joins us with expedia's ceo peter kern. >> thank you peter kern ceo of expedia, welcome back >> good to see you let's talk business travel, that remains a big question for the world of travel. i know you disagree with comments from airbnb ceo brian chesky made earlier this week on saying that business travel has forever changed and that more and more americans will long to increasingly work from remote destinations where they are seeing an uptick in extended stay bookings. what are you seeing? >> their data is their data and we've all seen that same trend, but i think most businesses, many businesses, are not fully back to the office, many people, because of delta, have delayed return to office, and many planned business travel was delayed because of delta i think we're seeing that trend extend a little bit, but i was with the ceo of a major u.s. bank in new york this week and he told a great story about how his team had gone out where other teams have stayed home and zoomed and they won the business and it was a great piece of business and i think that trend will continue. w

we were having this conversation with seema shah earlier, of how anchored rates have been and may be much of a tailwind that has been to equities. so when you think about this divergence you just alluded to as rates start to rise, when does that start to become a headwind for stocks, or is that also signaling higher growth? hugh: i thick it is signaling higher growth. for me, this is less of a headwind for the broad market, but more of a catalyst for rotation under the surface. when you are looking at the prospects for a return to value outperformance, for example, i think we are pretty hopeful that you are going to get back to another period of cyclicals outperform defensive's, value outperforming growth. i think the key earlier this year was the period when yields were rising, provided that base case is rise, you are likely to see treasury yields rise over the next six to 12 months. not a major problem for the s&p overall, but it does suggest there is more scope for cyclicals and value to perform more strongly than the gross leadership we've had over the past six month. guy: why am

in the time hours, with me now, seema meta. let's talk through some of this stuff.king pretty good right now, but he's still campaigning pretty hard, pulling out all the big guns. now the president will be campaigning for him over the next two days or so out in california. it doesn't seem like he's taking those numbers for granted. received a male ballot, so white -- it's a lot of variables out there. >> i think he wants to run up the numbers so they claims to have a mandate. >> and just how unusual this selection is. it's also -- i don't think anybody can say anything is certain. the whole scenario has been upended. a couple cycles always reps voted early and democrats on election day, and with president trump talking about mail-in ballots being rigged, republicans are reluctant to send in their ballots. i think they're expecting a large in-person vote on tuesday, which will decrease some of the margins we have seen already. without any we implores you to join us in this fight demanding a special session to investigate and amile yorrate the twisted result of this r

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i'm seema mody financials are on a tear this year, best performing sector in august, the biggest winnernging the heat, beating the broader group in the last month as investors grew optimistic about an economic recovery one of our next guests says banks are now at a key juncture. let's bring in matt and gina sanchez. gina, you say you love the banks. love is a strong word. tell us why. >> we have actually really benefitted from bank performance this year. bank of america in particular has been a strong performer and part of that is they suffered with net interest margins and were able to make up some of that with trading activity and fees going forward so much has been priced into the stock price that even we recognize it will be a hard hike from here. we've hit peak macro and it will be hard to beat expectations >> what should investors be mindful of >> it's kind of leveled off just this week and it's digesting the gains it saw in augment it's normal and healthy the one thing we have to be a little wary of if it rolls back over, watch the two day average. if it breaks below that, that w

i'm seema mody cowan digging into chipotle upping his price target.where it's trading right now analysts getting bullish on higher margin offerings. let's bring in the trading nation team. katie stockton, michael of bios advisers and, katie, shares of chipotle have lagged in recent weeks. what's your view on this stock >> before they lagged, they really had outperformed. we saw a run up of about 50% from the may low of course, with that, that was an extension of the long-term up trend. chipotle has historically been a leader in the space. and even though it's consolidated or digested those gains, it really still looks just fine from a long-term momentum perspective there's no major sell signals to speak of we had it on our long idea recommended list for about five weeks. and we took it off at the very end of july because we felt like it had reached a targeted level from its most recent breakout. that was just around 1815. we left it on the table there. but we do feel like it is now lacking a new upside cat last. and with that in mind, maybe at times n

david. >> all right, seema, thank you see many mowdy of course speaking to wall street. we've got an opening bell less than six minutes away. we're going to talk a lot of stocks stay with us >>> shares of chewy down sharply in premarket trading, posting a wider than expected quarterly ross and missing on revenue. here's what chewy's ceo had to say yesterday on "closing bell" about the company's website traffic. >> q2 traffic was flat to a little bit own, but traffic to chewy's website, to our platforms were actually up 20% that tells you two things. one, that the consumer influence to our platform, and their buying behaviors are strong. secondly, it tells you that we're actually picking up share from a market that actually is reeling from kind of the -- you had the highs of the last year >> yeah, i mean, picking up share probably no doubt for the rest of the pet supplies industry, but just not quickly enough you see the stock indicated down 9% this stuff peaked at 120 you've lost a third of your value. it very much is in that category to have companies that were in a fas

i'm seema mody a warning from the airlines thursday southwest, jetblue, unite, american airlines, alllook. this is just the latest obstacle in the recovery of an industry that's been hit hard by the pandemic let ade trace it with matt million, and john, clearly a conservative outlook, but why do you think all these stocks are rallying up 3% to 4 re%? >> investing is like a box of chocolates in the short term you never really know what you're going to get. the volatility is always high. you know, the long-term story on the airlines is we'll recover from the trouble from the pre-pandemic, and prior to the pandemic it was rational in the pricing. today it's what's your view on covid. in a poe tenchally rising rate world, how are the capital-intensive business, how are these industries going to perform? >> you have to make a bet on both of those working out one way or the other if you're going to play in this space. i'm more inclined to stay on the sidelines. >> matt, you say jetblue is a good proxy tell us why. >> you mentioned the airlines are bouncing back a bit today, but the transpor

i'm seema mody a rapid rise in the u.s.g its highest level this year against a number of currencies, putting pressure on emerging markets that own or have a high level of dollar denominated debt silver and gold also trading down in recent days. let's bring in the trading nation team, mat mark mutin and boris loss isberg. there are many ways to trade the thorough but you have got your eye on gold? >> i do. i a mean a dollar index is clearly on an upward trajectory driven by the rise in the ten-year rates that's helping the dollar index now go to multi-month highs. matter of fact, the euro has broke ten 116 level, which it hasn't done since 2020 overall, i think what is happening, one of the biggest vulner vulnerability a victim of this dollar rise is going to be gold. it trades on real interest rate yields, as nominal yields improve that's going to put further downward pressure on growthl goldman. add the fact that gold is seeing competition from crypto. you have a combination of more negative yield and competition from cryp

. >> it is notable republican senators seema aware of that. bill cassidy, they're still on board for the plan. thanks. >> thanks, jim. >>> the battle set to begin on the supreme court, let's bring in cnn analyst joan piscoupik. what are you seeing? >> usually this summer there is an adage that says the justices need their summer recess because they want to have tempers cool before they come back in october. no temperatures went down this summer especially after we saw what happened with the texas abortion, even before that when the supreme court by a 6-3 ideological split vote rejected the biden administration eviction moratorium and also his new asylum seekers plan. so what are they watching for is how the last three liberals on the supreme court, steven breyer, elena kagan and sonya sotomayor hold on and achieve anything because they are so in the down position. and we have a new chapter coming on abortion where they'll actually hear a major abortion case where they would set a rule on whether roe v. wade will survive throughout the country.

record increase to food stamp benefits if for americans and that program starts october 1st shep >> seemaemember occupy wall street? the people have left but a decade later did their protest make a difference? >>> and the first all civilian crew to orbit earth now back on land how their success has sent interest in going to space soaring. ...when their windshield got a chip. they drove to safelite for a same-day repair. and with their insurance, it was no cost to them. >> woman: really? >> tech: that's service you can trust. >> singers: ♪ safelite repair, safelite replace. ♪ welcome to allstate. ( phone notification ) where you can pay a little less and enjoy the ride a little more. now, get new lower auto rates. you're in good hands with allstate. click or call for a lower rate today. in business, setbacks change everything. yo so get comcastnds business internet and add securityedge. it helps keep your network safe by scanning for threats every 10 minutes. and unlike some cybersecurity options, this helps protect every connected device. yours, your employees' and even your customers'. s

. >> thank you let's go now to seema mody >> on a day like this it is important to look at technicalsin the team. boris sloshberg and ari wald boris, the 10-year at 1.3. what are you watching? >> watching i think nasdaq, as well at the 15,000 level. this is some ways a predictable correction in a long time. almost everybody starting to see signs of weakness over the last week or so because stocks were not going up at nearly the pace they were in the summertime. nasdaq exhausted itself. coming down now. it reacts the most to increase in rates the single biggest macro fablg or the going forward will be the 10-year. creeping up that's going to have a deleterious effect because it's impossible to catch up on the profit side if interest rates start to really push up higher. >> ari, what is your outlook ahead of the fed meeting >> the 10-year is basing and should creep higher to year end and be a net positive for the stock market overall and we do see this pullback in the weakness and the volatility we see as the final stages of a capitulation or the final part to the selloff and a bull mar